Zacks: Brokerages Expect TG Therapeutics, Inc. (NASDAQ:TGTX) Will Post Quarterly Sales of $590,000.00

Brokerages forecast that TG Therapeutics, Inc. (NASDAQ:TGTX – Get Rating) will post sales of $590,000.00 for the current quarter, Zacks reports. Three analysts have issued estimates for TG Therapeutics’ earnings, with estimates ranging from $40,000.00 to $1.34 million. TG Therapeutics reported sales of $1.55 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 61.9%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that TG Therapeutics will report full-year sales of $18.99 million for the current year, with estimates ranging from $3.20 million to $55.71 million. For the next financial year, analysts expect that the company will report sales of $101.04 million, with estimates ranging from $46.28 million to $163.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for TG Therapeutics.

TG Therapeutics (NASDAQ:TGTX – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.08). The company had revenue of $2.32 million during the quarter, compared to analysts’ expectations of $9.90 million. TG Therapeutics had a negative return on equity of 101.11% and a negative net margin of 5,204.07%. During the same quarter in the previous year, the company earned ($0.71) EPS.

Several equities analysts recently issued reports on TGTX shares. Zacks Investment Research raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 26th. StockNews.com assumed coverage on TG Therapeutics in a report on Thursday, March 31st. They set a “sell” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of TG Therapeutics in a report on Monday. B. Riley decreased their target price on TG Therapeutics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Finally, HC Wainwright cut their price target on TG Therapeutics from $68.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.75.

Institutional investors have recently modified their holdings of the company. PSI Advisors LLC purchased a new position in shares of TG Therapeutics during the third quarter valued at about $70,000. Macquarie Group Ltd. lifted its holdings in shares of TG Therapeutics by 44.3% in the 3rd quarter. Macquarie Group Ltd. now owns 4,160 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 1,277 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of TG Therapeutics in the 4th quarter valued at about $99,000. Exane Derivatives bought a new position in shares of TG Therapeutics in the 1st quarter valued at about $54,000. Finally, Baldwin Brothers LLC MA lifted its holdings in shares of TG Therapeutics by 250.0% in the 1st quarter. Baldwin Brothers LLC MA now owns 7,000 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company’s stock.

TGTX stock traded up $0.33 during midday trading on Friday, hitting $6.04. The company’s stock had a trading volume of 2,957,288 shares, compared to its average volume of 2,613,822. The company has a market cap of $872.48 million, a PE ratio of -2.17 and a beta of 2.25. TG Therapeutics has a 12 month low of $5.51 and a 12 month high of $41.00. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average is $8.62 and its 200-day moving average is $15.12.

About TG Therapeutics (Get Rating)

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its therapeutic product candidates include Ublituximab, an investigational glycoengineered monoclonal antibody for the treatment of B-cell non-hodgkin lymphoma, chronic lymphocytic leukemia (CLL), and relapsing forms of multiple sclerosis; and Umbralisib, an oral inhibitor of PI3K-delta and CK1-epsilon for the treatment of CLL, marginal zone lymphoma, and follicular lymphoma.

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